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Jack Scoville

Jack Scoville is an often quoted market analyst in the grain and soft commodities sectors. You will find his commentary throughout the Reuters, Wall Street Journal, Dow Jones, Bloomberg, and Barron's publications. Contact Mr. Scoville at (312) 264-4322

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Grains Report 12/11/2025

By On December 11, 2025 - 10:01 AM · In Market Commentaries, Morning Grains & Softs Report

DJ U.S. September Grain Imports-Dec 11

   In kilograms, from the U.S. Commerce Department, converted to
pounds by Dow Jones.
                       —-Sep 2025—-                —-Aug 2025—-
                         kilograms          pounds       kilograms        pounds
durum wheat              7,689,763      16,955,927          14,847        32,738
spring wheat            50,689,867     111,771,157       6,746,766    14,876,619
winter wheat                     0               0               0             0
wheat/meslin                     0               0               0             0
TOTAL WHEAT             58,379,630     128,727,084       6,761,613    14,909,357
barley                  71,701,350     158,101,477       6,304,960    13,902,437
oats                     7,532,015      16,608,093         255,706       563,832
corn                   375,242,035     827,408,687      65,197,964   143,761,511
other corn              16,749,743      36,933,183       1,747,145     3,852,455
TOTAL CORN             391,991,778     864,341,870      66,945,109   147,613,965
DJ U.S. September Soymeal, Vegetable Oils/Oilseed Imports-Dec 11
   In kilograms from the U.S. Commerce Department, converted to pounds
by Dow Jones.
                       —-Sep 2025—-                —-Aug 2025—-
                         kilograms          pounds       kilograms        pounds
coconut oil            299,600,435     660,618,959      26,351,715    58,105,532
palm kernel oil        307,809,287     678,719,478      31,826,487    70,177,404
palm oil             1,144,043,858   2,522,616,707     102,070,600   225,065,673
soybean                480,655,507   1,059,845,393      77,781,050   171,507,215
soymeal                          0               0               0             0
soyoil                 108,384,329     238,987,445       7,791,022    17,179,204
rapeseed oil
 edible              1,806,053,478   3,982,347,919     251,919,656   555,482,841
rapeseed oil,
 inedible                  665,576       1,467,595               1             2
DJ U.S. September Grain Exports-Dec 11
    In kilograms (top) and in bushels (bottom), except flour in cwt and malt
in pounds.  /1 denotes includes commercial and donated. Source: U.S. Department
of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
                               ——- In Kilograms ——-
                         Sep 25         Aug 25         Jul 25         Sep 24
Barley                1,465,219      2,104,175      1,820,000      1,734,451
Corn /1           6,978,168,000  6,396,512,000  6,224,451,000  4,278,577,000
Sorghum             142,244,000    269,022,000    125,432,000    350,084,000
Oats                  4,634,170      3,193,036      2,821,522      4,906,521
Rye                      90,085         93,753        527,801        183,634
Wheat /1          3,230,845,639  2,692,918,979  2,305,623,556  2,455,388,828
  wheat flour /1     19,471,057     17,972,529     20,428,825     25,233,062
Malt                 18,480,783     31,705,434     32,743,397     27,297,515
                            ——- In Bushels, CWT or Pounds ——-
                         Sep 25         Aug 25         Jul 25         Sep 24
Barley                   67,296         96,643         83,591         79,662
Corn /1             274,715,520    251,816,970    245,043,297    168,438,407
Sorghum               5,599,841     10,590,820      4,937,989     13,782,057
Oats                    319,265        219,980        194,385        338,029
Rye                       3,546          3,691         20,778          7,229
Wheat /1            118,712,037     98,946,819     84,716,294     90,219,169
  wheat flour /1        429,263        396,226        450,379        556,294
Malt                 40,743,159     69,898,529     72,186,846     60,180,729
1/Includes commercial and donated.
DJ U.S. September Oilseed, Meal, Oils/Fats Exports-Dec 11
   In kilograms (top). Oils in pounds, soybeans in bushels, meal and hulls in
short tons (bottom). Source: U.S. Department of Commerce.
(*)NOTE: Year ago figures reflect data reported at that time.
Data includes Exports and Re-Exports.
                               ——- In Kilograms ——-
                        Sep 25          Aug 25          Jul 25         Sep 24
soybeans          2,855,965,214   2,273,445,910   1,751,923,882  2,977,995,398
soyoil               17,777,264      36,960,520      28,651,357     27,383,872
  crude               5,831,302      21,286,790       6,975,381     12,143,630
  refined               134,979         289,730       4,989,326        209,020
  other/1            11,594,089      15,164,247      16,562,293     14,895,826
  hydrogenated          216,894         219,753         124,357        135,396
cottonseed oil        1,492,207       3,102,005       2,692,049        588,746
  crude                 811,709       2,191,946       1,515,999        116,108
  refined               421,814         359,463         467,903        421,653
  other/1               258,684         550,596         708,147         50,985
  hydrogenated                                                               0
sunseeds                846,939          59,876         102,632        249,305
sunseed oil           2,321,231       2,291,623       3,043,944      3,166,773
rapeseed             71,838,297      14,266,328      22,954,532     35,758,260
rapeseed oil          6,667,017       6,843,559       7,874,853      5,905,294
   crude              1,760,068       1,791,489       3,691,919      2,827,744
   refined            4,906,949       5,052,070       4,182,934      3,077,550
linseed meal                  0          78,387          22,000        141,464
cottonseed meal       2,878,829       1,873,375       2,320,615      2,766,093
soymeal           1,079,162,518   1,130,346,716   1,010,212,761    880,401,963
soymeal/flour       223,605,849     180,640,643     356,582,845    229,660,687
soymeal hulls        15,044,000      25,189,000      25,482,000     15,660,000
lard                  1,059,450         928,029         761,598      1,244,127
edible tallow         6,563,908       3,495,338       5,165,531      6,860,514
inedible tallow       3,315,879       1,709,463       3,551,163      4,358,883
ch white grease               0         212,716          21,560              0
                         ——- In Bushels, Pounds or Short Tons ——-
                         Sep 25          Aug 25          Jul 25         Sep 24
soybeans            104,937,681      83,533,980      64,371,523    109,421,477
soyoil               39,192,165      81,484,012      63,165,441     60,371,114
  crude              12,855,823      46,929,347      15,378,085     26,772,126
  refined               297,578         638,745      10,999,583        460,810
  other/1            25,560,595      33,431,448      36,513,612     32,839,681
  hydrogenated          478,170         484,473         274,160        298,497
cottonseed oil        3,289,754       6,838,752       5,934,953      1,297,963
  crude               1,789,512       4,832,415       3,342,206        255,974
  refined               929,941         792,480       1,031,550        929,586
  other/1               570,301       1,213,857       1,561,197        112,403
  hydrogenated                0               0               0              0
sunseeds              1,867,181         132,004         226,265        549,624
sunseed oil           5,117,439       5,052,165       6,710,749      6,981,541
rapeseed            158,376,362      31,451,875      50,606,089     78,833,482
rapeseed oil         14,698,259      15,087,468      17,361,082     13,018,947
   crude              3,880,286       3,949,558       8,139,290      6,234,109
   refined           10,817,973      11,137,910       9,221,793      6,784,838
linseed meal                  0              86              24            156
cottonseed meal           3,173           2,065           2,558          3,049
soymeal               1,189,561       1,245,981       1,113,558        970,467
soymeal flour/me        246,481         199,120         393,061        253,155
soymeal hulls            16,583          27,766          28,089         17,262
lard                  2,335,688       2,045,954       1,679,036      2,742,831
edible tallow        14,470,943       7,705,903      11,388,048     15,124,847
inedible tallow       7,310,263       3,768,721       7,828,976      9,609,694
ch white grease               0         468,959          47,532              0
DJ U.S. Export Sales: Weekly Sales Totals-Dec 11
    For the week ended Nov 13, in thousand metric tons, except cotton in
thousand running bales. Net changes in commitments are gross sales,
less cancellations, buy-backs and other downward adjustments. Total
commitments are total export shipments plus total sales.
   The marketing year for wheat and barley began Jun 1, cotton and
and rice Aug 1, corn, soybeans and sorghum Sep 1, and soymeal and
soyoil Oct 1. Source: USDA
               wk’s net chg                  total
               in commitments             commitments      undlvd sales
                 this yr    next yr   this yr   last yr  this yr  next yr
wheat              850.4        0.0   18117.4   14658.7   6006.5     35.3
  hrw              220.4        0.0    6674.5    3349.5   1774.5      2.5
  srw              257.1        0.0    2644.8    2330.6    957.1     22.4
  hrs              222.0        0.0    4505.3    4752.6   1435.5      0.0
  white            151.0        0.0    3942.5    3962.2   1699.9     10.5
  durum              0.0        0.0     350.3     263.7    139.5      0.0
corn              2380.4        0.0   40720.5   31396.0  24490.3    824.6
soybeans           695.6        0.0   18402.5   31236.7   8354.1     12.3
soymeal            357.9        0.0    7005.8    6509.4   5132.0      0.0
soyoil             -13.3       23.5     165.7     272.1    127.8     35.0
upland cotton      187.6        1.8    5440.7    6364.2   3374.9    448.6
pima cotton          8.9        0.0     161.5     214.3     63.6      0.0
sorghum            -22.8        0.0     804.9    1025.4    469.8      0.0
barley               2.4        0.0      60.4      26.0     33.8      0.0
rice               128.5        0.0    1168.9    1482.2    558.8      0.0
DJ CBOT Delivery Intentions: Totals – Dec 11
Source: CME Group
                            Contract                        Quantity   Next Trade
Commodity                   Month      Delivery Day   Assigned Today   Date Available
SOYBEAN OIL                 December   Dec 12, 2025                4   Dec 02, 2025
CORN                        December   Dec 12, 2025               22   Nov 28, 2025
HARD RED SPRING WHEAT FUT   December   Dec 12, 2025                1   Nov 25, 2025
KC HRW WHEAT                December   Dec 12, 2025                5   Nov 28, 2025
WHEAT
General Comments:   Wheat closed lower yesterday although demand for Wheat was left unchanged in the domestic USDA reports and was increased in the world USDA reports released on Tuesday.  The threat for additional bombings of freighters by either Russia or Ukraine kept futures supported to some extent.  World prices turned weaker last week due to reports of strong production in exporter countries and mostly the countries in the global south.  Production has been good in northern hemisphere countries.  Southern hemisphere crops appear to be very good.  Demand has been weaker for various origins including Russia.
Overnight News:
Chart Analysis: Trends in Chicago are mixed.  Support is at 524, 517, and 507 March, with resistance at 555, 560, and 573 March.  Trends in Kansas City are mixed.  Support is at 506, 501, and 494 March, with resistance at 540, 550, and 553 March. Trends in Minneapolis are not available.
RICE:
General Comments   Rice was lower again yesterday due in part to the WASDE reports released on Tuesday that showed reduced demand and increased ending stocks.  Ideas are that the market is too cheap and that farmers have sold what needs to be sold for now.  The recent selling has been to be relentless and appears tied to the weaker prices in Asia and especially India.  Trends are mixed in the market.  The harvest is over in the delta and Mid South.  California is about done with its harvest.  Yields and quality are mixed, but quality appears better than a year ago.  The cash market has been slow with low bids from buyers in domestic markets and average or less export demand.  The charts show that futures are in a short term trading range.
Overnight News:
Chart Analysis: Trends are mixed to down.  Support is at 976, 964, and 952 January and resistance is at 1028, 1056, and 1068 January.
CORN AND OATS
General Comments: Corn was lower yesterday in response to the WASDE reports that showed increased export demand and reduced ending stocks.  The stocks were still large enough to keep futures under pressure over all.  World ending stocks also showed reductions.  There have been ideas that traders expect weaker demand news from now on but demand overall has been very good and above USDA projections until now.  Ideas are that export demand is less now due to increased competition in the world market and ethanol demand is less as well.  Reports indicate that many elevators are holding less Corn than expected.  Trends are mixed in the market.  Temperatures should average below normal this week.  Oats were lower.
Overnight News:  Unknown destinations bought 186,000 tons of US Corn.
Chart Analysis:  Trends in Corn are mixed.  Support is at 430, 426, and 423 March, and resistance is at 452, 455, and 457 March.  Trends in Oats are down.  Support is at 290, 287, and 284 March, and resistance is at 315, 320, and 323 March.
SOYBEANS
General Comments: Soybeans and Soybean Oil were a little higher yesterday and Soybean Meal was a little lower.  The WASDE reports were released on Tuesday and showed unchanged stocks levels for the US and marginally lower ending stocks for the world.  It seems that Chinese demand is part of the price now and that the market is now more concerned about big supplies coming soon from South America.  The Trump administration says that China is on pace to buy the 12 million tons of US Soybeans it announced a few weeks ago by the end of February, but China has a lot of buying to do if it is to reach that goal.  It is already on a record pace for imports this year and might not need that much more.  The US will have to compete with South America for sales in a diminishing Chinese market and US prices are currently too high to complete many new sales.  The Chinese hog herd is being reduced and this means less demand for Soybeans and Soybean Meal.  Temperatures will average below normal in the Midwest this week.
Overnight News: Unknown destinations boughts 226,000 tons of US Soybeans.  China bought 264,000 tons of US Soybeans.
Analysis:  Trends in Soybeans are down.  Support is at 1071, 1063, and 1054 January, and resistance is at 1148, 1169, and  1184 January.  Trends in Soybean Meal are down.  Support is at 292.00, 289.00, and 286.00 January, and resistance is at 311.00, 316.00, and 319.00 January.  Trends in Soybean Oil are mixed.  Support is at 4980, 4930, and 4860 January, with resistance at 5320, 5420, and 5510 January.
PALM OIL AND CANOLA
General Comments:   Palm Oil futures were near unchanged today after an early rally attermpt failed.  There are still Indonesian plans to increase the use of Palm Oil in biofuels blends.  There are still ideas of increasing production.  The market sentiment overall is turning bearish on ideas of increasing stocks to the market and some concerns about demand   Canola was lower as sellers returned to the market on ideas of big Soybeans harvest coming from South America.  Trends are down on the daily charts.  StatsCan reported last week that the country has produced a big Canola crop this year.
Overnight News:
Chart Analysis: Trends in Canola are down.  Support is at 610.00, 604.00, and 598.00 January, with resistance at 636.00, 645.00, and 650.00 January.  Trends in Palm Oil are down.  Support is at 4010, 3940, and 3880 February, with resistance at 4200, 4270, and 4300 February.
DJ Malaysian PM Cash Market Prices for Palm Oil – Dec 11
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, supplied by commodity broker Matthes & Porton Bhd.
  Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
             Offer      Change      Bid        Change   Traded
Dec          1035.00    +10.00      Unquoted   –        –
Jan/Feb/Mar  1030.00     00.00      Unquoted   –        –
Apr/May/Jun  1037.50     00.00      Unquoted   –        –
Jul/Aug/Sep  1032.50    +05.00      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           1040.00    +10.00      Unquoted   –        –
Jan/Feb/Mar   1035.00     00.00      Unquoted   –        –
Apr/May/Jun   1042.50     00.00      Unquoted   –        –
Jul/Aug/Sep   1037.50    +05.00      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           1005.00     00.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Dec           1005.00     00.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec            4,070.00   -10.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Dec            421.00     =01.00      Unquoted   –        –
($1=MYR4.1035)
DJ Malaysian PM Cash Market Prices for Palm Oil – March 28
  The following are prices for Malaysian palm oil in the cash market at 1000 GMT Friday, supplied by commodity broker Matthes & Porton Bhd.
  Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgit a ton. Palm kernel oil prices are in ringgit a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports
             Offer      Change      Bid        Change   Traded
Apr          1135.00    +15.00      Unquoted   –        –
Apr/May/Jun  1092.50    +20.00      Unquoted   –        –
Jul/Aug/Sep  1012.50    +17.50      Unquoted   –        –
Oct/Nov/Dec  1002.50    +15.00      Unquoted   –        –
Jan/Feb/Mar  1007.50    +12.50      Unquoted   –        –
RBD palm olein, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1140.00    +15.00      Unquoted   –        –
Apr/May/Jun   1097.50    +20.00      Unquoted   –        –
Jul/Aug/Sep   1017.50    +17.50      Unquoted   –        –
Oct/Nov/Dec   1007.50    +15.00      Unquoted   –        –
Jan/Feb/Mar   1012.50    +12.50      Unquoted   –        –
RBD palm stearin, FOB, Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1112.50    +20.00      Unquoted   –        –
Palm Fatty Acid Distillate, FOB Malaysian ports
              Offer      Change      Bid        Change   Traded
Apr           1070.00    +15.00      Unquoted   –        –
Crude palm oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            4,830.00   +70.00      Unquoted   –        –
Palm kernel oil, Delivered Basis, South Malaysia
               Offer      Change      Bid        Change   Traded
Apr            494.00     +07.00      Unquoted   –        –
($1=MYR4.4363)
  (END) Dow Jones Newswires
  03-28-25 0623ET
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